Can I Sell 1Oz Gold Bars In Thailand?

[Royrex]

a friend told me this: I could not sell 1oz gold bars i thailand because use the baht system and thai gold is 22 k, while a certfied gold bar is 1 oz and is 24 k pure.

my friend told me not even to bring it into thialand.

True or rumor?

thanks

[Suradit69]

The quality of the gold is not an issue. There are goldsmiths here, but importing bullion without a license is illegal, assuming you're bringing quantity. Thai gold is mainly 96.5% pure, 23 k, but they deal in other grades.

Customs Rules

Import regulations::

Prohibited (without licence):

1. Firearms and ammunition incl. explosive articles and fireworks, drugs of narcotic nature, e.g. heroin.

2. Gold bullion. Moreover it must be declared on arrival and can, if no import licence is available, be left in Customs bond at the airport of entry to be retrieved on departure.

Edited May 25, 2013 by Suradit69

[kiniyow]

Most Gold shops are leary of Outside Gold..They can test it but will most likely offer you a less then Value on a Buy...

[thrilled]

You would be better off selling it where your at presently.less hassle.

[XINLOI]

You would be better off selling it where your at presently.less hassle.

Unless you are from the USA.....Uncle will want his cut too!

[farang000999]

Start calling the Thai gold shops in Chinatown.

[Naam]

True or rumor?

pure BS unless you want to sell to a mom&pop goldshop in Nakhon Nowhere. renowned goldshops in Bangkok buy and sell 999.

[cheeryble]

2. Gold bullion. Moreover it must be declared on arrival and can, if no import licence is available, be left in Customs bond at the airport of entry to be retrieved on departure.

How kind Customs will look after your gold safely and save you storing elsewhere....

[cheeryble]

2. Gold bullion. Moreover it must be declared on arrival and can, if no import licence is available, be left in Customs bond at the airport of entry to be retrieved on departure.

How kind Customs will look after your gold....very safely no doubt.....and save you paying to store elsewhere....

[yoshiwara]

Start calling the Thai gold shops in Chinatown.

They will be so grateful as all the gold has been sold and the store shelves are empty.

[Arkady]

These people sell 99.99% gold bars. You could call them. http://www.ausirisgroup.com/ausiris-gold-bullionnew-en.php

[phuketrichard]

I know a few people that buy and sell gold bars thru gold shops here in Phuket

once ur here just take it to any that are near where you are.

[SVS]

What is the market and import laws like at the gold shops for silver coins, US 999 Silver Eagles and US 900 Morgan Silver Dollars? Does the gold billion import law include small quantities like under 1 OZ total and does it include Gold jewelry?

[ALFREDO]

I sold some Gold jewelry, in Thailand, even in rural countryside Amphoe, from different Quality, 14 k, 18 k ect. was not a problem.

Sure you have to take care, that the deal is correctly calculated from the different Gold qualities to Thai standard.

In my home country, you need a specific stamp, (duty-tax) of my home country on the Gold item to sell it officially.

So, as some of my Gold missed out on that stamp I sold it now in Thailand. It was only a minor quantity, so no big thoughts about the border.

[MyFriend You]

Start calling the Thai gold shops in Chinatown.

True, some of the gold shops are over a 100 years old - but Vietnam is a better market for 24K gold, better prices as well, they don't stick with the International Rates and gold is still almost #2000 an ounce.

[samjaidee]

Start calling the Thai gold shops in Chinatown.

True, some of the gold shops are over a 100 years old - but Vietnam is a better market for 24K gold, better prices as well, they don't stick with the International Rates and gold is still almost #2000 an ounce.

I live in Vietnam and hold gold there. The current selling price (that is you selling) for a 1 luong bar (37.5g), which is 999.9 Fine Gold, is 40,880,000 dong.

Today's exchange rate is US$1 = 21,000 dong, therefore 37.5g is worth US$1947.

One troy ounce is equal to 31.1g, therefore the current value of gold in Vietnam is US$1615/troy ounce

The gold price is taken form this Vietnamese website: http://sjc.com.vn/?n=1 They are far and away the largest bullion dealers in Vietnam.

It reached peak on 1st October 2012 of 47,670,000 dong/luong. Stupidly, I held onto it.

I hope that clarifies it for you.

Saigon Sam

EDIT: "he largest" to "the largest"

Edited May 27, 2013 by samjaidee

[PCA]

Start calling the Thai gold shops in Chinatown.

True, some of the gold shops are over a 100 years old - but Vietnam is a better market for 24K gold, better prices as well, they don't stick with the International Rates and gold is still almost #2000 an ounce.

I live in Vietnam and hold gold there. The current selling price (that is you selling) for a 1 luong bar (37.5g), which is 999.9 Fine Gold, is 40,880,000 dong.

Today's exchange rate is US$1 = 21,000 dong, therefore 37.5g is worth US$1947.

One troy ounce is equal to 31.1g, therefore the current value of gold in Vietnam is US$1615/troy ounce

The gold price is taken form this Vietnamese website: http://sjc.com.vn/?n=1 They are far and away the largest bullion dealers in Vietnam.

It reached peak on 1st October 2012 of 47,670,000 dong/luong. Stupidly, I held onto it.

I hope that clarifies it for you.

Saigon Sam

EDIT: "he largest" to "the largest"

if what you state is true (which I do not believe to be possible) then what goes the Dong - USD rate in reverse back for? (Not talking about mommy's wedding ring)

[ozyjon]

I like gold also and hold a quantity of gold, i have a gold ring my ex gave me that i was interested in selling,, it cost $200 AUD in Bangkok, i took it to some gold bying shops in Sydney but the most they would give me was about $150 AUD, i took it to gold byuers in Lisbon where i am living at the moment but the most they would give me was about 80 Euro, $100 AUD, i was told the cheapest place to buy gold was in India but where can i get the best selling rate, i truly think the days of buying and selling gold are over, what next.

[Whidbeyboy]

I like gold also and hold a quantity of gold, i have a gold ring my ex gave me that i was interested in selling,, it cost $200 AUD in Bangkok, i took it to some gold bying shops in Sydney but the most they would give me was about $150 AUD, i took it to gold byuers in Lisbon where i am living at the moment but the most they would give me was about 80 Euro, $100 AUD, i was told the cheapest place to buy gold was in India but where can i get the best selling rate, i truly think the days of buying and selling gold are over, what next.

Thier will always be a market for Gold, always has been. But people convinved others that the ned was near and that Gold was the only real thing of value. Now that stability has returned and we see that te end isn;t here yet, we see gold isn't going to be worth as much as others said. The market is based on the opinions and beliefs of others, not in real intrinsic value. I never dealt with the gold rush and think it is just one of many longterm options.